Increase the partnership tax capital account

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Reference no: EM131950469

1. Which of the following does not increase the partnership's tax capital account?

a. money contributed by the partner to the partnership

b. the fair market value of property contributed by the partner

c. money contributed by the partnership to the partnet

d. The partner's distributive share of the partnership's taxable income and gain

2. the basis of a partner's partnership interest in increased by:

a. charitable contribution made by the partnership

b. the partner's distibutive share of partnership losses

c. the partner's distributive share of taxable and non taxable income of the partnership

d. distributions of money and the adjusted basis of other property to the partner

Reference no: EM131950469

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